Wells Fargo & Company Cuts Bio-Rad Laboratories (NYSE:BIO) Price Target to $345.00

Bio-Rad Laboratories (NYSE:BIO) had its target price lowered by Wells Fargo & Company from $360.00 to $345.00 in a research note published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical research company’s stock.

Other equities analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, Citigroup increased their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $276.55 on Wednesday. The firm has a market capitalization of $7.74 billion, a P/E ratio of -10.12 and a beta of 0.90. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $338.72 and a 200 day moving average price of $336.18. Bio-Rad Laboratories has a 52 week low of $262.12 and a 52 week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. Sell-side analysts expect that Bio-Rad Laboratories will post 10.33 EPS for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in BIO. UMB Bank n.a. grew its stake in shares of Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after purchasing an additional 45 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Bio-Rad Laboratories by 281.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company’s stock valued at $91,000 after acquiring an additional 200 shares during the period. Creative Planning grew its stake in Bio-Rad Laboratories by 6.0% in the 3rd quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock valued at $546,000 after acquiring an additional 93 shares during the period. Paragon Capital Management Inc. grew its stake in Bio-Rad Laboratories by 3.2% in the 3rd quarter. Paragon Capital Management Inc. now owns 4,944 shares of the medical research company’s stock valued at $1,654,000 after acquiring an additional 151 shares during the period. Finally, Marathon Asset Management Ltd grew its stake in Bio-Rad Laboratories by 0.5% in the 3rd quarter. Marathon Asset Management Ltd now owns 71,537 shares of the medical research company’s stock valued at $23,934,000 after acquiring an additional 344 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.